Markets pick up after shaky start (Second Lead)

December 29th, 2008 - 4:34 pm ICT by IANS  

SensexMumbai, Dec 29 (IANS) Indian equities markets shook off morning losses in afternoon trade Monday, with a key index trading 0.75 percent higher around 90 minutes before the closing bell.The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) was trading at 9,398.765 points, a rise of 69.84 points or 0.75 percent from its Friday close of 9,328.92 points.

The broader S&P CNX Nifty index of the National Stock Exchange (NSE) also gained and was trading at 2,884.4 points, about 26.45 points or 0.95 percent higher than the previous close.

The market indices, however, showed mixed response, with the BSE smallcap index trading 0.17 percent lower and the midcap index rising by 0.41 percent.

Top gainers till the afternoon were Satyam Computers and Ranbaxy Laboratories.

Satyam shares rose handsomely as company officials signalled measures to tighten corporate governance guidelines, and a possible change in the management of the company, including the probable exit of the company founder, chairman B. Ramalinga Raju.

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